BankDhofar adopts strategic approach to SME Financing
In alignment with the Omani government's dedicated efforts to empower the small and medium enterprises (SME) sector, BankDhofar is placing a strong emphasis on supporting this crucial segment of the national economy. The bank is achieving this by introducing innovative lending solutions tailored to the specific needs of small and medium businesses.
Recognizing the government's unwavering focus on SMEs as a vital source of employment for Omanis and their contribution to socioeconomic growth, BankDhofar has significantly increased its commitment to this underserved sector. To achieve this, the bank has established a dedicated SME Unit within its corporate banking offices in Muscat, Sohar, and Salalah. This unit has a comprehensive mandate to provide cost-competitive, flexible, and hassle-free credit to small and medium enterprises.
As a one-stop lender with the expertise to create financing solutions for even the most complex requirements, BankDhofar is fully equipped for the task. These end-to-end capabilities draw on the bank's in-house advisory services, digital resources, and exceptional trade facilitation services. The following standout capabilities are at the disposal of BankDhofar's SME Unit when assessing entrepreneurs' financing needs:
Tailored Financing: BankDhofar offers a diverse range of financing options, including long-term and short-term loans, working capital loans, bill discounting, and more. These options cater to the unique needs of Omani businesses, enabling them to seize growth opportunities, expand their operations, and invest in innovation.
Expert Advisory Services: The Bank’s seasoned business advisors provide personalized guidance, market insights, and strategic direction to help businesses navigate challenges, make informed decisions, and unlock their full potential.
Cutting-edge Digital Tools: BankDhofar leverages technology to streamline banking processes, enhance convenience, and offer digital solutions that align with the evolving needs of modern businesses. This ensures seamless operations and efficient cash management.
Trade Facilitation: With a deep understanding of international trade dynamics, BankDhofar offers comprehensive trade finance solutions that facilitate cross-border transactions, mitigate risks, and open doors to global markets.
In light of Oman's nascent economic recovery, easy access to credit has become imperative for SMEs as they strive to rebuild their businesses, which were adversely affected by the recent back-to-back global economic crises and the pandemic. BankDhofar remains committed to helping them navigate the intricacies of financing and reignite their aspirations to become successful entrepreneurs."
